Aspen’s service praised and loan sizes questioned in broker survey
Aspen Bridging’s first broker survey found it has a good service but itsmaximum loan sizes may be too low.
At present the business has a maximum loan size of £1.5m for portfolios and £1m on single properties and 48% said the £1.5m figure was too low.
All of the 77 respondents rated Aspen as excellent or good, 99% judged its LTVs as market leading or enough, 92% said its rates were competitive and procuration fees were considered fair by 92%.
Jack Coombs, (pictured) director at Aspen Bridging, said: “Naturally we are delighted that our service excellence targets are all being achieved and widely recognised by the broker community, but of course we want to do more business and to meet our customer needs in terms of larger loans.
“We will be taking immediate action on this point, a meeting has been arranged with the executive directors where all the findings can be openly discussed and we will decide if our loan size criteria can be adapted.”
Chris Whitney and Callum Taylor at Enness wrote ‘best service provided by any lender by a country mile, however loan sizes are too small’.
Alex Vickery at Y3S agreed stating ‘best bridging lender I have ever used’ but went on to say the firm ‘need’s capacity to do bigger loan sizes’.
Ed Wylie at F4B also reported ‘great service but there would be more opportunity I feel with a larger max loan amount’.